Seagate Technology Holdings PLC $STX Shares Sold by BTC Capital Management Inc.

Key Points

• BTC Capital Management Inc. reduced its stake in Seagate Technology Holdings PLC by 20.2%, selling 8,142 shares during the second quarter, leaving them with 32,098 shares valued at approximately $4.57 million.
• In terms of insider trading, CEO William D. Mosley sold 20,000 shares worth over $3.07 million, while another insider, James Ci Lee, sold 1,116 shares, resulting in significant reductions in their ownership.
• Seagate Technology recently declared a quarterly dividend of $0.72 per share, set to be paid on October 9th, with a current dividend yield of 1.3%.

BTC Capital Management Inc. decreased its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 20.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,098 shares of the data storage provider's stock after selling 8,142 shares during the period. BTC Capital Management Inc.'s holdings in Seagate Technology were worth $4,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of STX. Vanguard Group Inc. raised its position in shares of Seagate Technology by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock worth $2,441,729,000 after acquiring an additional 769,009 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock worth $1,607,321,000 after purchasing an additional 2,161,191 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Seagate Technology by 3.6% during the 1st quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider's stock worth $243,077,000 after acquiring an additional 99,884 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Seagate Technology by 0.8% during the 1st quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider's stock worth $138,378,000 after buying an additional 12,424 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Seagate Technology by 24.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,627,264 shares of the data storage provider's stock valued at $140,449,000 after buying an additional 318,306 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Trading Up 2.1%

NASDAQ:STX traded up $4.59 during trading hours on Friday, hitting $221.23. The company's stock had a trading volume of 4,831,576 shares, compared to its average volume of 3,680,065. The stock has a market capitalization of $47.12 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 1.28 and a beta of 1.53. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $221.66. The stock has a fifty day moving average of $166.69 and a 200-day moving average of $126.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, sell-side analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be given a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.88 annualized dividend and a dividend yield of 1.3%. Seagate Technology's dividend payout ratio is presently 42.54%.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Seagate Technology from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 11th. UBS Group upped their target price on shares of Seagate Technology from $85.00 to $155.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Bank of America raised their price target on shares of Seagate Technology from $170.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Finally, The Goldman Sachs Group began coverage on Seagate Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $170.00 target price for the company. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus price target of $177.95.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the completion of the sale, the chief executive officer directly owned 478,912 shares in the company, valued at $73,632,720. The trade was a 4.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 3,732 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $193.30, for a total transaction of $721,395.60. Following the completion of the sale, the executive vice president directly owned 4,172 shares in the company, valued at $806,447.60. This represents a 47.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,935 shares of company stock valued at $12,289,616. Company insiders own 0.79% of the company's stock.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.